What does the auditor need to understand about the flow of transactions in the auditee’s information systems?
Answer to relevant QuestionsWhat sources of information can auditors use to gain knowledge about the auditee’s internal controls? What is a control strength? What is a control weakness? How do control strengths relate to control testing? What risk arises if IT systems are not properly aligned to each other? Why would controls be tested for the whole period being audited?At a meeting of the corporate audit committee attended by the general manager of the products division and you, representing the internal audit department, the following dialogue took place:• Jiang (committee chair): Mr. ...
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